Homeowners look to refinance
The interest rate hikes in May and August are prompting homeowners to tighten their belts and spend less, according to the latest data from the Australian Bureau of Statistics. Department store sales tumbled 7.2% in August after racking up solid gains of 7.7% in July. Analysts blamed the 25 basis point rate increase in August for the sharp decline in department store sales.
10 Oct, 2006